WILLIAM F. SHUGHART  ROBERT D. TOLLISON 《Kyklos》1993,46(2):263-272

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JANE V. HALL  DUANE L. CHAPMAN  WILLIAM F. BARRON  CLEMENT A. TISDELL 《Contemporary economic policy》1994,12(4):1-22

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WILLIAM D.  GERDES 《American journal of economics and sociology》2004,63(3):647-664

Abstract . Given the contemporary interest in growth, conventional measures of economic growth (changes in real GDP or real GDP per capita) may be less preferable than a measure that is more plutological by design. The plutological measure presented in this paper is that of Adam Smith (1776 ). While Smith's work pre‐dated formal national income accounting, there was a macroeconomic accounting scheme implicit in his theorizing on economic growth. This study articulates Adam Smith's concept of national product (referred to as Smithian national product, or SNP). It uses current output data to compute SNP for a set of six African countries, and examines the growth experience of these countries when using SNP as opposed to the more conventional GDP measure.  相似文献   

    

STEPHEN J. BROWN  WILLIAM N. GOETZMANN 《The Journal of Finance》1995,50(2):679-698

We explore performance persistence in mutual funds using absolute and relative benchmarks. Our sample, largely free of survivorship bias, indicates that relative risk-adjusted performance of mutual funds persists; however, persistence is mostly due to funds that lag the S&P 500. A probit analysis indicates that poor performance increases the probability of disappearance. A year-by-year decomposition of the persistence effect demonstrates that the relative performance pattern depends upon the time period observed, and it is correlated across managers. Consequently, it is due to a common strategy that is not captured by standard stylistic categories or risk adjustment procedures.  相似文献   

    

IOANNIS KARATZAS  MARTIN SHUBIK  WILLIAM D. SUDDERTH 《Journal of Public Economic Theory》2011,13(4):503-537

The monetary and fiscal control of a simple economy without outside randomness is studied here from the microeconomic basis of a strategic market game. The government’s bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered.  相似文献   

    

ANTHONY E. MYATT  WILLIAM M. SCARTH 《The Manchester School》1987,55(2):144-157

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WILLIAM F. SHUGHART  ROBERT D. TOLLISON 《Kyklos》1985,38(1):43-59

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SHERRIE L. W. RHINE  WILLIAM H. GREENE 《The Journal of consumer affairs》2006,40(1):21-40

Random‐effects binary choice models are estimated to identify the attributes that influence the likelihood that immigrants are unbanked. This study finds that the likelihood to be unbanked is higher for immigrants with less education, poverty‐level income, or a larger family but lower for immigrants with greater net worth or higher income. Among immigrant groups, Mexican and other Latin American immigrants have the highest rates of being unbanked. Programs aimed at helping immigrants move into the financial mainstream may benefit from taking into account the differences in socioeconomic attributes and migration experiences of specific populations.  相似文献   

    

RICHARD WILLIAM FAREBROTHER 《The Manchester School》2012,80(5):630-632

In this paper we show that a set of conditions that are sufficient to ensure the stability of a univariate linear difference equation are closely related to the corresponding set of necessary and sufficient conditions established by Samuelson and Wise.  相似文献   

    

WILLIAM BREEN  LAWRENCE R. GLOSTEN  RAVI JAGANNATHAN 《The Journal of Finance》1989,44(5):1177-1189

Knowledge of the one-month interest rate is useful in forecasting the sign as well as the variance of the excess return on stocks. The services of a portfolio manager who makes use of the forecasting model to shift funds between bills and stocks would be worth an annual management fee of 2% of the value of the assets managed. During 1954:4 to 1986:12, the variance of monthly returns on the managed portfolio was about 60% of the variance of the returns on the value weighted index, whereas the average return was two basis points higher.  相似文献